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CSPAN
Dec 6, 2012 5:00pm EST
. >> guest: >> host: we have been focusing on different parts of the fiscal cliff discussion and now we are looking at tax extenders or tax incentives for business and individuals. joining us in this discussion is a tax writer for see q roll-call, what are text extenders? >> temporary tax breaks. that is the most basic definition. some are concerned the entire tax code is turning to one text extender. where do you define it? traditionally they are considered to be small provisions narrowly targeted at different types of businesses. some do individuals as well. >> host: why are the temporary? >> guest: good question. a lot of people including people in congress say they should be made permanent or they should be eliminated altogether. but they are temporary because it is easier to pass that way, looks like it costs less. usually they keep being extended and extended so in effect they are almost permanent. >> host: we will look at some of these, this is congressional research service. the tax extenders and cost of the cost of continuing the tax breaks through 2013. we will begin with the research and experimentation, tax credit, $14 billion, in, excep
CSPAN
Dec 4, 2012 5:00pm EST
fiscal cliff often omit that the senate has passed legislation to shield 98% of families and 97% of small businesses from the income tax part of this so-called fiscal cliff. we passed the middle-class tax cuts act on july 25 of this year and we sent the measure to the house of representatives. did speaker boehner and the republicans in the house promptly pass this popular bill and send it to president obama for his signature? did they move to protect 98% of middle-class families from this tax hike in january? no. no. they decided to hold the middle-class tax cuts passed by the senate hostage in an attempt to push for tax cuts for the folks they care the most about, the top 2% of highest earning households. republicans fighting for millionaires and billionaires is not a new story. in 2001, president george w. bush decided to spend a large portion of the surpluses he inherited from president clinton to cut tax rates. many democrats opposed him then because the tax cuts were unfair, favoring the highest-income americans. to overcome that obstacle, the republicans resorted to a parliamentary technique, budge
CSPAN
Nov 29, 2012 9:00am EST
republicans will finally realizing their way back from the fiscal cliff has been right in front of them all along. in july the senate passed legislation to give economic certainty to 98% of american families and to small businesses, to every american making less than $250,000 a year. for four months we've been one vote away for from a solution to this looming crisis. they've held the middle-class hostage to protect the richest 2% of taxpayers, people who enjoyed a decade of ballooning income and shrinking tax bills. one has to admire the president, who went out and campaigned on this issue. he didn't -- he didn't in any way walk away from the issue. he said that's how we're going to get our fiscal house in order. and independents by a huge margin, democrats by a huge margin, and 41e% of republicans support what the president asked us to do. now, reasonable republicans are coming around to what democrats are said all along. let's reasure millions of americans that their taxes won't go up on january 1. those are the people who are the middle class of america. prominent republicans are calling on speaker boehner to end the suspense for man milliof these american families. yesterday republican congressman tom cole of ok
CSPAN
Dec 5, 2012 12:00pm EST
goes a long way to address the fiscal cliff. that's already passed here. last july the senate passed a bill to continue tax cuts for 98% of all americans and 90% of all american small businesses. if the republican leader were serious about preventing us from going over the fiscal cliff, he would urge his colleague, the speaker, tpo get the house to -- to get the house to take up the senate-passed bill now. there are republicans who have already said that's the right thing to do, conservatives, moderates, we had one senator today who said she thinks that should happen. in the meantime -- that was a republican senator, by the way. the republican leader is, mr. president, just as stunned. the election is over. it's time to get down to business. mr. president, this paper he has, secretary geithner didn't bring that stack of stuff to me. it was a private meeting, trying to work something out with this very troublesome issue fating -- facing this country: the deficit, the debt. this private meeting turned out to be a publicity stunt for republicans talking about what he had said in private. so, mr. president, i object. the presiding officer: objection is heard. mr. mcconnell: mr. presi
CSPAN
Dec 4, 2012 9:00am EST
we all met with the president to avert that fiscal cliff that we hear so much about. yesterday, after weeks of delay, and as the days dwindle and taxes are set to go up for millions of families and businesses, republicans in the house finally showed up at the negotiating table. and now we know why they've been holding their cards so close it their vest. their proposal would raise taxes on millions of middle-class families. their plan to raise $800 billion in revenue by eliminating popular tax deductions and credits would reach deep into pockets of middle-class families. republicans are so intent on protecting low tax rates for millionaires and billionaires, they're willing to sacrifice middle-class families' economic security to do so. at the first of the year, middle-class families, will get an average of $200 i,200 in additional taxes they'll have to pay. their proposal was short on specifics but we do know from independent analysis that it is impossible to raise enough revenue and make a dent in our deficit without using one of two things -- raising tax rates on the top 2% or raising taxes on the middle class. and, as my friend, the senior senator from missouri, said on the sunday talk shows, the sp
CSPAN
Dec 6, 2012 12:00pm EST
tax increases and this fiscal cliff. she said, "the middle class is the heart and soul of this country. what keeps it going and growing? what else can we be hit with? i know i cannot take anything more on financially." so my first call today, madam president, is let's give deborah and families like hers in delaware and around the country the serntle before we end this -- the certainty before we end this calendar year of knowing their taxes will not go up in 26 days when the calendar turns to 201. one way to do that is for the moushouse to take up the legisln that this body has already considered in a bipartisan way that would extend the tax cuts for 98% of families and 97% of small businesses while also achieving nearly d is trillion of debt and deficit reduction. this bill extends tax cuts that would otherwise expire for all americans who earn income and for all small businesses, but just on the first $250,000. tax ratetax rates on income abot would revert to tax rates during the clinton administration. this one step would blunt the impact of the fiscal cliff for the vast majo
CSPAN
Dec 6, 2012 9:00am EST
fiscal cliff. this is in fact the family and business tax cut certainty act of 2012. while i hope that the negotiations to avert the fiscal cliff are successful, in my view we should not wait for a grand bargain in order to finish work on this important tax extender legislation. tax extenders are different from the other fiscal cliff issues for three basic reasons, and let me describe those reasons. first tax extenders are much less contentious than the other end of year problems that we -- that need to be resolved. the tax extender bill on the senate calendar has strong bipartisan support. in august, the finance committee approved it by a large margin. we have support from six republicans, including the ranking member, senator hatch. all 13 democrats supported it. i believe that many more republicans will vote for this legislation if it's brought up for consideration here in the senate. the bill consists entirely of tax cuts. it should not be difficult to get senators to vote for tax cuts, right before christmas especially. most of these tax cuts have solid bipartisan support. many of
CSPAN
Dec 7, 2012 12:00pm EST
discussion on the fiscal cliff clearly exceeds that far. we are honored to have such a thoughtful panel. senator mark warner, senator bob corker, congressman chris van hollen, governor tim pawlenty who is currently president and ceo of the financial services roundtable. moderate in our discussion today is albert hunt. we always love having l over here. he really put limburg on a map in d.c. and yesterday was his birthday so happy birthday. [applause] i'm going to turn things over to tom davis who is the man who really needs no introduction. he has been a great friend over the years. i would be remiss if i didn't give his full official title at deloitte. he is the director of federal government affairs. please join me in welcoming congressman tom davis. [applause] >> thank you and most importantly i left congress undefeated and unindicted so i am very happy about that. on behalf of deloitte i want to thank our all-star panel, senator corker, governor pawlenty, congressman van hollen in senator warner for participating in our all-star moderator albert hunt for giving up his birthday and w
CSPAN
Dec 7, 2012 9:00am EST
agreement to avoid the fiscal cliff? >> i think it should be. this is serious business. we get questions all the time what's the deal going to be, really isn't a game nor is it the deal. serious fiscal and tax policy, about the economic future of our country, about the great country will live in and continue to be the greatest country and economy in the world. and we have different opinions about that. i'm with the president on this one. we saw what happened to economies on response in the market when the republicans were willing to go off the cliff. the republicans are saying it now, not pay our debt, not pay are full, jeopardize the full faith and credit of the united states. this is not a game. it is serious business. we don't pay our bills, we don't pay our debt, the interest rates go up and it will be harder to borrow. it's not where you make a decision about spending and about the budget. we've already made those decisions. this is about paying the bills. we are not happy about it, we shouldn't be. the debt is serious in this country. we have to get the deficit under cont
CSPAN
Nov 29, 2012 5:00pm EST
and win in the global economy. again, today as we're approaching the fiscal cliff, i hope that this senate works together in a bipartisan -- on a bipartisan basis to work toward tax reform in a way both to increase revenues but also to grow our economy while we look at the important structural reforms we have to make in order to solve the fiscal crisis we face. thank you, mr. president. the presiding officer: the senator from oklahoma. mr. inhofe: mr. president, let me elaborate a little bit on what the senator from ohio just said. i think it's important to remember that the whole idea was a democrat idea, not a republican idea. this is -- some of us remember -- not actually were here at the time but in the 1960's during the kennedy administration -- of course the last time i checked, he was a democrat -- he was the one who made the statement. i have quoted this very often. he said we need more revenue to take care of the great society programs that he had kind of inherited and was furthering. he said the best way to increase revenue is to decrease marginal rates. he did that, i rem
Search Results 0 to 9 of about 10